EUR/USD broke out Target Zone 2 [1.1109 – 1.1091] yesterday. The next target in the middle-term uptrend is Target Zone 3 [1.1291 — 1.1273]
USCrude – oil
The price has broken out Target Zone 4 [34.17 – 33.42] at the Asian session today. The next upside target for the next week or two is Target Zone 5 [41.67 – 40.92].
The key support of the medium-term uptrend is now in the zone of [28.38 – 27.48]. To enter new purchases, I recommend expecting the price correction down to the support zone and looking for a buy pattern.
Let us analyze the shorter timeframe. The short-term uptrend is developing. The price has reached Gold Zone 4 [37.54 – 37.17].
Until this resistance is broken out, there may start a correction. In case of a correction, the price will test the strong supports, Additional Zone [35.13 – 34.91], and Intermediary Zone [32.88 – 32.43]. I recommend entering new buy trades in the support zones according to the pattern with a target at the daily high.
USCrude Trading ideas for today:
Buy according to the pattern in Additional Zone [35.13 – 34.91]. TakeProfit: 37.28. StopLoss: according to the pattern rules.
Buy according to the pattern in Intermediary Zone [32.88 – 32.43]. TakeProfit: 37.28. StopLoss: according to the pattern rules.
XAUUSD – gold
In the middle-term chart, gold is trading in the correction down in the middle-term uptrend. The correction target is to test Target Zone [1673.6 – 1664.4].
Yesterday, I suggested selling gold. According to the trading recommendations, there should be entered a sell trade. I recommend holding the trade down to the target.
The short-term gold trend is down. Yesterday, traders were testing Intermediary Zone [1744.0 – 1739.4]. This resulted in the sellers’ activity, and the bears are in control now. The price has been down by 230 points.
The price is now testing the intraday support Additional Zone [1722.3 – 1720.0]. If it is broken out, the price will continue moving down with the target at the low of last week.
The major sell target is the lower Target Zone [1673.6 — 1664.4].
XAUUSD Trading ideas for today:
Hold down sell trades entered at level 1736.6. TakeProfit: Target Zone [1673.6 – 1664.4]. StopLoss: 1762.0
EURUSD – euro/dollar
The EUR/USD broke out Target Zone 2 [1.1109 – 1.1091] yesterday. The next target in the medium-term uptrend is Target Zone 3 [1.1291 – 1.1273].
The trend key support is now in the zone of [1.1032 — 1.1013].
The price broke out the resistance Gold Zone [1.1152 – 1.1143] yesterday, the US session closed the price above. The EUR/USD is now approaching the next target Target Zone 2 [1.1252 – 1.1234].
For the next few days, I recommend expecting a correction and entering new purchases in the strong support zones, Additional Zone [1.1168 – 1.1164] and Intermediary Zone [1.1123 – 1.1114]. The target to take some of the profits could be set at the daily high.
It will be relevant to sell the eurusd if the price breaks through the low hit at the US session yesterday and consolidates below AZ.
EURUSD Trading ideas for today:
Buy according to the pattern in Additional Zone [1.1168 – 1.1164]. TakeProfit: 1.1211, Target Zone 2 [1.1252 – 1.1234]. StopLoss: according to the pattern rules.
Buy according to the pattern in Intermediary Zone [1.1123 – 1.1114]. TakeProfit: 1.1211, Target Zone 2 [1.1252 – 1.1234]. StopLoss: according to the pattern rules.
IZ – Intermediary Zone: responsible for the price momentum reversing
TZ – Target Zone: a zone that is 75% likely to be reached after IZ breakout.
GZ – Gold Zone: zone in the medium-term momentum.
All zones are calculated based on the average daily price of the instrument and margin requirements of the futures.
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Price chart of EURUSD in real time mode
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